DUBLIN–(BUSINESS WIRE)–The “Southeast Asia HVAC Market Research Report: By Type, End User – Industry Analysis and Growth Forecast to 2030” report has been added to ResearchAndMarkets.com’s offering.
The Southeast Asia HVAC market was valued at $18,745.5 million in 2021, and it is predicted to grow at a CAGR of 6.4%, to reach $32,824.1 million in 2030. The advancing hospitality industry and the increasing pace of infrastructure development are the main drivers for the market. Heating, ventilation, and air conditioning (HVAC) devices are used to control the humidity, temperature, and purity of the air in the space.
Key Findings of Southeast Asia HVAC Market Report
- The Southeast Asia HVAC market advance is fueled by the growing hospitality industry. The area is among the most-well-known tourist attractions because of its beaches and historical sites. It is also popular since it is less expensive than other travel places, particularly in North America and Europe.
- In Indonesia, for example, 120 new hotels are expected to open by 2024, with 45 in the five-star category and 75 in the four-star category. The country has approximately 17,000 islands, which provide a big potential for adventure as well as a huge growth possibility for the tourism industry. In the next few years, this is expected to stimulate the need for HVAC systems in resorts and hotels.
- Thus, Trane Technologies plc introduced Air-Fi wireless sensors for the Trane/Mitsubishi Electric CITY MULTI VRF system in April 2022. This sensor is used to detect and manage humidity, heat, carbon dioxide (CO2), and occupancy, thus obviating the need for several sensors and, as a result, lowering the appliance’s energy usage.
- During the projected period, the cooling category is predicted to grow at the highest CAGR, of 7.5%, in terms of volume. This will be due to the hot and humid summers that characterize the region. These climatic conditions fuel the expansion of the Southeast Asia HVAC market by driving the demand for room-ducted splits, air conditioners, split units, and VRF systems.
- Furthermore, the International Energy Agency (IEA) reported that just 15% of the households in regional nations have an air conditioner, indicating a large possibility for expansion of the market. Furthermore, when the income rises, affordability improves, thus resulting in a significant increase in the demand for air conditioners.
Key Topics Covered:
Chapter 1. Research Scope
Chapter 2. Research Methodology
Chapter 3. Executive Summary
Chapter 4. Voice of Industry Experts/KOLs
Chapter 5. Market Indicators
5.1 Adoption of green Building
Chapter 6. Definition of Market Segments
6.1 By Type
6.1.2 Ventilation
6.1.3 Cooling
6.1.4 By End User
Chapter 7. Industry Outlook
7.1 Market Dynamics
7.1.1 Trends
7.1.1.1 Adoption of energy efficient and Smart HVAC systems
7.1.2 Drivers
7.1.2.1 Infrastructure development in the Southeast Asia
7.1.2.2 Growing hospitality industry
7.1.3 Impact Analysis of Drivers on Market Forecast
7.1.4 Restraints
7.1.4.1 High Installation cost
7.1.4.2 Phasing out of HCFC refrigerant
7.1.5 Impact Analysis of Restraints on Market Forecast
7.2 Impact of COVID-19
7.3 Value Chain Analysis
7.4 Porter’s Five Forces Analysis
Chapter 8. Southeast Asia Market Size and Forecast
8.1 Overview
8.2 Market Volume, by Type (2017-2030)
8.3 Market Revenue, by Type (2017-2030)
8.4 Market Revenue, by End User (2017-2030)
8.5 Market Volume, by Country (2017-2030)
8.6 Market Revenue, by Country (2017-2030)
Chapter 9. Indonesia Market Size and Forecast
Chapter 10. Thailand Market Size and Forecast
Chapter 11. Vietnam Market Size and Forecast
Chapter 12. Malaysia Market Size and Forecast
Chapter 13. Singapore Market Size and Forecast
Chapter 14. Philippines Market Size and Forecast
Chapter 15. South Korea Market Size and Forecast
Chapter 16. Cambodia Market Size and Forecast
Chapter 17. Myanmar Market Size and Forecast
Chapter 18. Competitive Landscape
18.1 List of Market Players and Their Offerings
18.2 Market Share Analysis of Key Players
18.3 Recent Strategic Developments of Player
18.3.1 Mergers and Acquisitions
18.3.2 Product and Service Launches
18.3.3 Other Developments
For more information about this report visit https://www.researchandmarkets.com/r/t8dvhf
